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Many homeowners see the benefits of creating a guest bedroom, office, separate laundry room, workout room, game room or even a home theater in their finished basement. Whatever the use, a basement build out can satisfy the need for extra living space and offer a big return on investment when it comes time to sell.

CURRENT TRENDS

Higher quality. In today’s finished basements, the quality of the space has become commensurate to the main level. Higher ceilings and upscale materials such as fixtures and appliances have raised the level of value in today's basement build outs.

Professional construction. In years past, the do-it-yourself routine was common, but with competition in the market, the newer and more updated the look, which can only be accomplished by a professional, the better your ROI.

BIGGEST MISTAKE

According to appraisal expert, Leslie Sellers, president of the Appraisal Institute, planning is key. "This is not the kind of project to do on a whim; you don't want to wind up with a hodge-podge basement plan that can't serve its desired purpose." If you do not take careful consideration of space and how you want the basement to function, a poor floor plan is the likely outcome.

EXPERT TIPS

On a Budget: If your home already has a basement but it's seen better days, give the space a pick-me-up by updating the flooring, fixtures and adding a fresh coat of paint. Even if the basement doesn't have all the amenities modern basements have, these weekend-project updates can make a big improvement visually for the space.

Mid-Range: If you want the quality of professional basement construction but aren't looking to dig deep into your pockets, consider doing a few things on your own after the bigger projects are done. Think about taking on the painting, carpeting or fixture installation, like ceilings fans or lights, DIY style. These projects tend to be easy enough for the homeowner, as long as you do your homework, and can help save some serious cash on installation and labor costs by the end of the basement construction.

High-End: When it comes to modern basement construction, the sky is the limit to what you can do and the space you can create in the lower level of your home. Work with a professional to design a plan based on how you want to use the extra square footage. Whether you want an entertainment space with a bar, game room or home theater, or you are looking to add separate space for guests with a bedroom suite, the basement can be just as luxurious as the rest of the home.